Twitter CEO Parag Agrawal to receive $42 million if sacked after Elon Musk's acquisition?

The richest person in the world and one of the famous entrepreneurs in the world, Elon Musk, added another business to his portfolio as he acquired Twitter for $44 billion. The development made headlines across the globe and there were reactions from other entrepreneurs, celebrities from film industries, apart from the meme fest that is common for such events. 

Before the Tesla CEO took over the social media platform, one of the major decisions regarding the company in the past few months has been the appointment of Parag Agrawal as the CEO. Does the Twitter acquisition change anything for the CEO?

If reports are anything to go by, Agrawal could receive $42 million if he is sacked within a year of Musk taking over the company.

Parag Agrawal to earn $42 million if sacked after Musk takes over company: Reports

Twitter CEO Parag Agrawal, as per several reports, will receive an estimated $42 million if he was terminated within 12 months of Elon Musk taking over the company.  

The estimate was compiled by Equilar, and put into consideration a year of Agrawal's base salary and also combined accelerated vesting of all equity awards, on the basis of the $54.20 per share offering by Musk. 

After completing the acquisition, Musk stated that he planned to transform the company. Earlier this month, the tech entrepreneur had shared that he did not have confidence in the management. 

Agrawal being appointed as the CEO in November was one of the major decisions involving the management for the company.  

"Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important," read Agrawal's first response after Musk's acquisition of Twitter. Earlier this month, he had expressed his delight in welcoming Musk as a part of the board.

Elon Musk buys Twitter for $44 billion

Musk said the failure of Twitter's potential as a platform for free speech was his main reason to buy Twitter. He has promised to make the platform 'better than ever' with the implementation of new features, like the elimination of automated 'spam bots' and algorithms open to the public to enhance trust on the platform.